How much will Aldi affect house price?

kilby_007

We've seen a house we like close to the centre of a nice village. The owner has had it on the market since November, when plans were announced to build an Aldi supermarket directly opposite, on the grounds of an old halls of residence. The entrance to the site will be very close. im wondering how much it's likely to affect re-sale value?

Davesnave

It's impossible to say without knowledge of the site; how quiet it is now and how busy it might become, landscaping etc.. This 'village' must be substantial and not at all like mine, which has a mere 600 residents.

I know that when Tesco built a new supermarket in a local town, four properties formerly on a quiet road which became one of the main entrances, suffered different fates. Two of them were boarded-up and two remained occupied, so it's reasonable to assume that Tesco or a subsidiary bought the ones that fell into disuse. This was around the time of the last recession, but presumably plans were made well before that happened.

Move on 7 or 8 years and the disused properties were suddenly refurbished by the same developer and sold at normal market rates for houses in a reasonably busy street, convenient to town. They didn't take a long time to sell. People probably judged that there was no huge disadvantage living in them.

It's also possible that the supermarket became seen as a local asset for employment and helped boost some nearby unrelated businesses, but I couldn't really be sure about that. The town is doing well anyway.

moneyistooshorttomention

I am also surprised to see the words "Aldi" and village in the same sentence. Add the words that the site was "halls of residence" and I'm visualising a university town.

If it really is a village - then the fact that a major supermarket has plans on setting up there I guess symbolises that the village as a whole is "Southern England and expand-like-billyo" territory?

That being the case - you are about to see one heck of a lot of houses built near you over the next few years anyway and changing the whole place out of all recognition and there are much bigger concerns than what will happen to one particular road - as the whole village will be affected.

davidmcn

kilby_007 wrote: »

We've seen a house we like close to the centre of a nice village. The owner has had it on the market since November, when plans were announced to build an Aldi supermarket directly opposite, on the grounds of an old halls of residence. The entrance to the site will be very close. im wondering how much it's likely to affect re-sale value?

That rather depends on how much the halls of residence had affected its value...these sorts of things rarely have as much effect as people think. Being within earshot of the servicing side of the supermarket can be more annoying (deliveries at antisocial hours, fridge compressors running 24/7, etc).

davidmcn

Davesnave wrote: »

This 'village' must be substantial and not at all like mine, which has a mere 600 residents.

moneyistooshorttomention wrote: »

I am also surprised to see the words "Aldi" and village in the same sentence. Add the words that the site was "halls of residence" and I'm visualising a university town.

A quick search suggests we're talking about Cottingham, which according to Wiki:

is a large village and civil parish in the East Riding of Yorkshire, England with average affluence. It lies just to the north-west of the city of Kingston upon Hull. With a parish population of over 17,000 in 2011, Cottingham is one of the villages claiming to be the largest village in England.

moneyistooshorttomention

Thanks.

No wonder we all get confused. I would call somewhere with population of 17,000 a town personally.

But then I can think of a village that calls itself a city because its got a cathedral.

moneyistooshorttomention

Quick google later - and wikipedia says "Travellers site Woodhill Way".

Personally - my biggest concern would be plenty of "clear blue water" (or roads in this case) between any house I was interested in and that.

Missus_Hyde

Davesnave wrote: »

This 'village' must be substantial and not at all like mine, which has a mere 600 residents.

Around here (South East) the term "village" is subjective; huge estates are being built over the rapidly declining countryside and being loosely described in the sales blurb as "village living"? .......I suppose that's true, if you don't mind living in a village the size of Manchester!!:p

Still hey ho, one estate is right next to a very large Tesco's, so at least the "village" residents will have somewhere local to do their shopping.:cool:

Davesnave

moneyistooshorttomention wrote: »

No wonder we all get confused. I would call somewhere with population of 17,000 a town personally.

So would I.

Especially as my nearest town has a population of just over 1000. :rotfl:

PasturesNew

Aldi or Halls of Residence.... I'd rather live close to an Aldi. Aldi employees don't come home drunk every night from midnight to 3am and puke in the bin.

chris_m

PasturesNew wrote: »

Aldi or Halls of Residence.... I'd rather live close to an Aldi. Aldi employees don't come home drunk every night from midnight to 3am and puke in the bin.

How about students who also work at Aldi?